Live! Diwali baksheesh for you: Petrol price cut by Rs 1.15/litre

October 31, 2013 18:36

The government's Diwali gift for you: Petrol price cut by Rs 1.15 per litre, diesel price hiked by 0.50 p/litre.

Yesterday, the Kirit Parikh Committee recommended that trade parity pricing formula for diesel, kerosene and cooking gas (LPG) be retained.

It suggested an increase in its retail price by Rs 4-5 per litre immediately and the remaining subsidy recovered from consumers through a monthly price hike of Re 1 per litre or oil companies be paid a fixed subsidy of Rs 6 per litre.

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